Merchant banking sources have predicted the IPO size will be between Rs 1,800 crore and Rs 2,100 crore.
Mumbai based pharmaceutical ingredients giant Blue Jet Healthcare has filed its preliminary Initial Public Offering (IPO) papers with Sebi, India’s market regulator, with the agenda of raising Rs 2,100 crore. The company’s promoters — Akshay Bansarilal Arora and Shiven Akshay Arora will sell 21,683,178 equity shares, as per the draft red herring prospectus (DRHP). It will be done via offer-for-sale mode completely. Merchant banking sources have predicted the IPO size will be between Rs 1,800 crore and Rs 2,100 crore.
Blue Jet Healthcare is a specialty healthcare ingredient. It offers niche products targeted towards innovator and multinational generic pharmaceutical companies. Its business model focuses on development and manufacturing of complex chemistry categories. ICICI Securities, Kotak Mahindra Capital Company Limited, and J.P. Morgan India Private Limited are the books running lead managers to the issue. The equity shares are proposed to be listed on BSE and NSE.